Is the luxury sector recession-proof?
Not all high-end brands will lose their shine
Hermès is a byword for exclusivity. Its signature Birkin bag, one of which sold for $450,000 last year, cannot be bought from the luxury firm’s website or by simply walking into a store. There are neither ads in fashion magazines nor glossy campaigns on Instagram. For the not-so-famous, owning a Birkin can involve a years-long waiting list.
This article appeared in the Business section of the print edition under the headline “Keeping their shine”
Business June 3rd 2023
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